SHOP vs XYZ
Shopify Inc. and Block, Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | SHOP | XYZ |
|---|---|---|
| Revenue | $11.6B | $24.2B |
| Net income | $1.2B | $1.3B |
| Gross margin | 48.1% | 42.8% |
| Net margin | 10.7% | 5.4% |
| Return on equity | 9.8% | 6.0% |
| Diluted EPS | $0.94 | $2.10 |
| Dividend / share | · | · |
| Payout ratio | · | · |
| Free cash flow | $2.0B | $2.4B |
| Equity | $13.5B | $22.2B |
| Net debt / equity | · | · |
| Current ratio | 5.96× | 2.20× |
| Revenue CAGR 5y | 31.6% | 20.6% |
| Profit CAGR 5y | 31.0% | 43.7% |
XYZ bills 2.1× the revenue of SHOP, and SHOP keeps more of each dollar of revenue as profit (10.7% against 5.4%).
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | SHOP | XYZ |
|---|---|---|
| FY2025 | $11.6B | $24.2B |
| FY2024 | $8.9B | $24.1B |
| FY2023 | $7.1B | $21.9B |
| FY2022 | $5.6B | $17.5B |
| FY2021 | $4.6B | $17.7B |
| FY2020 | $2.9B | $9.5B |
| FY2019 | $1.6B | $4.7B |
| FY2018 | $1.1B | $3.3B |
| FY2017 | $673.3M | $2.2B |
| FY2016 | $389.3M | $1.7B |
Bottom line
| Fiscal year | SHOP | XYZ |
|---|---|---|
| FY2025 | $1.2B | $1.3B |
| FY2024 | $2.0B | $2.9B |
| FY2023 | $132.0M | $9.8M |
| FY2022 | $-3.5B | $-540.7M |
| FY2021 | $2.9B | $166.3M |
| FY2020 | $319.5M | $213.1M |
| FY2019 | $-124.8M | $375.4M |
| FY2018 | $-64.6M | $-38.5M |
| FY2017 | $-40.0M | $-62.8M |
| FY2016 | $-35.4M | $-171.6M |
12 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | −$12,637,683,000 | XYZ |
| FY2024 | −$15,241,053,000 | XYZ |
| FY2023 | −$14,855,623,000 | XYZ |
| FY2022 | −$11,931,587,000 | XYZ |
| FY2021 | −$13,049,347,000 | XYZ |
| FY2020 | −$6,568,087,000 | XYZ |
| FY2019 | −$3,135,327,000 | XYZ |
| FY2018 | −$2,224,948,000 | XYZ |
| FY2017 | −$1,540,949,000 | XYZ |
| FY2016 | −$1,319,391,000 | XYZ |
| FY2015 | −$1,061,885,000 | XYZ |
| FY2014 | −$745,174,000 | XYZ |
XYZ has reported the higher revenue in every one of these 12 fiscal years. The gap has widened since the earliest year compared.
12 of 13 comparable fiscal years — a year missing data on either side is not counted.
12 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +5.3 pp | SHOP |
| FY2024 | +10.9 pp | SHOP |
| FY2023 | +2.0 pp | SHOP |
| FY2022 | −58.6 pp | XYZ |
| FY2021 | +62.3 pp | SHOP |
| FY2020 | +8.7 pp | SHOP |
| FY2019 | −15.9 pp | XYZ |
| FY2018 | −4.8 pp | XYZ |
| FY2017 | −3.1 pp | XYZ |
| FY2016 | +1.0 pp | SHOP |
| FY2015 | +5.0 pp | SHOP |
| FY2014 | −3.1 pp | XYZ |
The higher net margin has changed hands between SHOP and XYZ over this period.
12 of 13 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
SHOP's net margin has been more volatile than XYZ's over the 12 comparable fiscal years — 27.8 percentage points of standard deviation against 8.4.
12 of 13 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in net margin changed hands between SHOP and XYZ over these 12 fiscal years — SHOP led in 7 and XYZ in 5.
12 of 13 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
XYZ's return on equity has been more volatile than SHOP's over the 12 comparable fiscal years — 23.8 percentage points of standard deviation against 18.4.
12 of 13 comparable fiscal years — a year missing data on either side is not counted.
Year by year
The lead in return on equity changed hands between SHOP and XYZ over these 12 fiscal years — SHOP led in 8 and XYZ in 4.
12 of 13 comparable fiscal years — a year missing data on either side is not counted.